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Compliance News: Latest Russian Sanctions!

Sanctions across the globe continue to hit different nations, as the fight on Financial Crime aims to safeguard business around the world.

Organisations have this week hit the one-year mark of sanctions following Russia’s invasion of Ukraine on the 24th of February 2022. Last year, the Western world quickly responded to the outcry from the war and put a stop to Russian Banks, High-Net-Worth individuals and entities being able to trade in the US and EU.

In a further effort to stop Russia, the European Union are this week preparing to launch a new round of Economic Sanctions.

As reported by Rikard Jozwiak from the RFERL, “The centerpiece of this sanctions package, seen by RFE/RL, is export bans on EU goods worth 11.3 billion euros ($12 billion), using EU-Russia trade volumes from 2021. A whole list of products, stretching to nearly 70 pages, will be banned from going to Russia.”

He continues: “There is also an import ban on some Russian goods, mostly various types of rubber and asphalt, coming into the EU, to the tune of 1 billion euros.”

The sanctions package will take focus on the Russian military. Individuals and companies will also be hit with sanctions and asset freezes, as the fight on the Ukrainian front continues on for another day.

For further information on the Financial Crime Market and / or Compliance Recruitment, please get in touch:

Taylor Catton – Compliance & Sanctions Specialist Recruiter

The Risk Partners are a boutique Governance specialist recruiter, with Compliance & Risk Management at the heart of its activities. We live in a world where Governance steers the world through often challenging times. Our aim is to work with clients to ensure that you find the right people for your business. Please get in touch to discuss how we can help you.


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